Vodafone sells their Hungarian business for £1.5 billion

Amid an ongoing overhaul Vodafone has sold their Hungarian business to 4iG for £1.5 billion which will be used to pay debt.

In August 2022 Vodafone first announced their binding agreement to sell Vodafone Hungary to local technology company 4iG and the Hungarian state.

Chief financial officer Margherita Della Valle said the deal, “establishes a scaled converged operator across mobile and fixed communications and supports the Hungarian government’s goal of creating a national information and communications technology champion.”

She added, “The combined entity will increase competition and accelerate investment in the ongoing digitalisation of Hungary.”